The United Bank offers a 3-year certificate with a fixed 40% return paid upfront, allowing customers to receive the full interest due for the certificate's 3-year term in advance, on the business day after the certificate's issue date.

The certificate's term starts on the business day after the issue date. The minimum is EGP 5,000, and the certificate can be issued in multiples of EGP 1,000.

The United Bank 3-year certificate: details

  • Tenor: 3 years.

  • Interest rate: 40% fixed.

  • Payout frequency: interest is paid upfront for the certificate's full term.

  • Minimum purchase: EGP 5,000.

  • Denomination: multiples of EGP 1,000.

  • Eligibility: individuals only.

  • Interest calculation: based on the actual number of days on the computer system.

  • Interest credit: credited on the business day after the certificate's issue date.

A worked example

If a customer buys a certificate worth EGP 100,000, they receive total interest of EGP 40,000 upfront, credited to their account on the business day after the issue date, while the certificate's principal remains invested until maturity after 3 years.

The customer thus receives the certificate's set return in advance instead of waiting for periodic payouts during the term.

Early redemption terms

The certificate cannot be redeemed until 6 months after its issue date.

If it is redeemed before maturity, a percentage of the interest the customer received upfront is deducted, with the difference taken from the certificate's principal on redemption.

For redemption in the first year, 90% of the interest is applied; the percentage falls to 60% in the second year and 30% in the third year, according to the certificate's terms and conditions.

The holder may redeem the certificate at any The United Bank branch, subject to the applicable terms and conditions.

Borrowing against the certificate

The United Bank allows customers to borrow against the certificate, subject to the bank's applicable terms and criteria.

All The United Bank terms and conditions apply to the certificate.